AFFILIATE MARKETING

How ButcherBox’s affiliate market strategy has evolved

Published

1 year ago

October 18, 2023

How ButcherBox's affiliate market strategy has evolved

When subscription meat service ButcherBox launched in 2015, it quickly adopted affiliate marketing as a means to acquire online customers in a relatively cheap way. Much of this was done by reaching out directly to digital creators to spread the word about ButcherBox’s meat cuts. Today, the company still relies on this army of power users-turned-influencers to drive its affiliate marketing strategy.

At the Modern Retail DTC Summit, held this week in Naples, Florida, ButcherBox CMO Kiran Smith spoke about the way the company builds long term loyalty among customers.

ButcherBox was founded at a time when diets like keto and paleo were coming into the spotlight – which revolve heavily around eating healthy proteins. This helped ButcherBox position itself as a convenient solution for home cooks interested in premium meat, poultry and seafood. “It was a little bit of a ‘right place, right time,’” said Smith. Later on, Covid helped propel the interest in ButcherBox’s delivery service even further, as more people ordered groceries to be delivered. The bootstrapped company, which started through a Kickstarter campaign, generated $600 million in revenue as of 2022.

The company’s launch timing also helped it build out robust affiliate marketing early on, before the strategy became a standard part of many DTC playbooks. ButcherBox worked with digital creators by having them showcase the deliveries in their recipes. In turn, the company paid out commissions in exchange for the content. “We still have some of our original influencers who are still receiving a check,” Smith said. “It’s just that now it’s become more of a business.”

Given its subscription model, ButcherBox focuses largely on lifetime value (LTV) following customer acquisition from channels like influencer and affiliate marketing. One of the main focal points for retention is strengthening the relationship with new customers throughout the first three box deliveries, which Smith said is roughly in the first three to six months. “If you get three boxes, we got you,” she said. “We want to make sure you’re staying engaged to show value and get you excited about the next box.”

Eight years ago, it was much easier to source and retain creators, given that the influencer was in its infancy. These days, however, ButcherBox has a more sophisticated model for onboarding and working with creators and influencers. When starting out, ButcherBox simply provided influencers with recipe cards in their boxes to make and share with followers — along with a unique referral code. With the influencer space becoming more crowded, Smith said now the challenge is in finding authentic partners who can speak to the brand.

But the company is now being much more thoughtful about the creators it works with. These influencer accounts tend to be medium-sized, which Smith said is the “sweet spot” for ButcherBox. As such, the company now works with external agencies to identify and get access to medium-sized influencers that the company may not be able to sign on its own.

While the company uses a variety of paid marketing channels, affiliate referrals remain effective in terms of cost and long-term retention.

The strategy is also part of ButcherBox’s approach to growing its customer base through online communities. One example is ButcherBox’s Facebook group, Smith said, where 5,000 members are constantly sharing cooking tips and recipes. The idea is to create organic opportunities for some of ButcherBox’s biggest fans to create content and spread the word about the company’s products.

As such, Smith said a ButcherBox influencer’s follower size doesn’t matter. Instead, the company looks for a “type” of creator dictated by their interest in food. “It’s someone who loves to cook and has the passion to talk about, not only the protein on the plate, but show people how to get that meal on the table in under 30 minutes.”

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Related Topics:affiliate ButcherBoxs Evolved market seo strategy

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X Rival Bluesky Gains 1.2 Million New Users in 2 Days

Published

18 hours ago

October 18, 2024

Entireweb News Bot

X Rival Bluesky Gains 1.2 Million New Users in 2 Days

X users may be migrating to bluer skies after a major change.

Bluesky is an open, ad-free social network that grew out of Twitter, now X, in 2019. The platform announced on Thursday that half a million new users signed up within a day of X announcing that it would be changing up its blocking feature “soon.” Blocked users on X will be able to see public posts but not like, reply or engage with them in any other way.

Although X said the change was to prevent people blocking others from sharing sensitive information about people they have blocked, X users stated that the move would support stalking, render the Block function useless and violate Google Play Store and Apple App Store requirements.

Bluesky stated on Friday that more than 1.2 million people have signed up to use the platform since Wednesday.

congratulations everyone, we have now passed 12 million people total on bluesky!!! ?

over 1.2M new people have joined bluesky in the last two days — welcome!! ???

[image or embed]

— Bluesky (@bsky.app) October 18, 2024 at 1:42 PM

Soon we’ll be launching a change to how the block function works.

If your posts are set to public, accounts you have blocked will be able to view them, but they will not be able to engage (like, reply, repost, etc.).

— Engineering (@XEng) October 16, 2024

Bluesky also experienced a surge in users last month after X shut down operations in Brazil on August 30. Within a week of the ban, Bluesky added 3 million new users, 85% of whom were from Brazil. X resumed operations on October 9, but not before Bluesky surged to 10 million users in September.

The platform now has 12 million users total, per a Friday announcement.

Meta’s Threads also appears to be experiencing a surge in users; it is currently first under the top free apps for iPhone list, with Bluesky coming in fifth. Threads surpassed 175 million users in July.

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AFFILIATE MARKETING

Netflix Adds 5 Million Users, Analysts Predict Price Hike

Published

2 days ago

October 18, 2024

Entireweb News Bot

Netflix Adds 5 Million Users, Analysts Predict Price Hike

Netflix posted its third-quarter earnings on Thursday and beat Wall Street predictions for both subscribers added and overall revenue. Meanwhile, analysts forecast that the streaming giant will soon raise its prices.

Netflix’s revenue for the third quarter was $9.825 billion, slightly more than the $9.769 billion analysts had predicted. The company also added 5.1 million subscribers, well over the 4 million additional users investors expected.

“Engagement, our best proxy for member happiness, remains healthy,” the report noted. “Through the first three quarters of 2024, view hours per member amongst owner households (the clearest view of engagement trends post the introduction of paid sharing) increased year over year.”

Netflix currently has over 600 million users with each one spending about two hours per day on the platform, per the report.

Will Netflix Raise Prices in the U.S.?

Thursday’s earnings report may not mean subscribers will avoid a price hike. The streaming company is increasing prices in Spain and Italy on Friday, and analysts from investment firms including Oppenheimer & Co. stated before the earnings release that a price hike may be on the way for U.S. users, too.

Netflix currently costs $6.99 per month for a standard plan with ads, $15.49 per month for a standard plan with up to two devices watching at the same time, and $22.99 per month for a premium plan with up to four devices supported.

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Nvidia’s ‘Insane’ AI Chip Demand Leads to Record Share Price

Published

3 days ago

October 16, 2024

Entireweb News Bot

Nvidia's 'Insane' AI Chip Demand Leads to Record Share Price

Nvidia is the second most valuable company in the world, with a market cap of over $3 trillion. At market close on Monday, shares of the AI chipmaker hit an unprecedented high of $138.07 before falling to $131.32 at the time of writing.

Nvidia’s performance is tied to strong demand for its AI chips. Nvidia CEO Jensen Huang stated recently that demand for Nvidia’s Blackwell AI chip is “insane” and “everybody wants to have the most.” Nvidia expects to ship enough of the new chip to make several billion dollars.

Nvidia was briefly on the edge of unseating Apple as the most valuable company in the world on Monday. Last week, Nvidia shares grew by $400 billion in five days, more than the entire market cap of Costco.

Huang also said last month that demand was his biggest worry, or what kept him up at night.

“We have a lot of people on our shoulders, and everybody is counting on us,” he said, adding that having access to Nvidia’s technology was a “really emotional” point for the company’s clients.

Nvidia counts the biggest tech players among its clients: Amazon, Meta, Microsoft, and Google contribute to more than 40% of its revenue. Nvidia’s earnings beat analyst expectations last quarter, with revenue growing 122% year-over-year, the fourth quarter in a row of growth over 100%.

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